Fuel Price Hike in Sri Lanka Imminent due to US sanctions on Iran – PM

August, 9, 2018

Addressing the Parliament yesterday (08) Sri Lanka’s Prime Minister Ranil Wickremesinghe said that a fuel price hike was imminent, as a result of the US economic sanctions imposed on Iran.

“The US sanctions on Iran could affect Sri Lanka adversely. We don’t know whether this would result in an oil price hike, as Sri Lanka currently imports Iranian crude oil. However, we will have to be prepared to face any adverse situation,” the Prime Minister said. He was responding to a question raised by Joint Opposition MP Bandula Gunawardana regarding vehicle import duties.

He said that the continuing trade war between China and the USA would also affect Sri Lanka, and that Sri Lanka should be prepared to face any adverse situation that may be caused by these global developments.

- Reporting by Devendra Francis